Key Market Indicators
Norwegian consumption of soybean oil is expected to reach almost 3 thousand metric tons by 2026, a 1.2% drop per year on average since 2017. In 2021, Norway was 92nd in the ranking of countries by soybean oil consumption, with Oman ahead in first place with 3 thousand metric tons. China, India and Brazil took the second, third and fourth spots. Norwegian production of soybean oil is estimated to rise to over 82 thousand metric tons by 2026, growing at a 0.7% annual rate since 1966. In 2021, Vietnam led the ranking with 79,420 metric tons, while Norway came in 34th. The United States, Brazil and Argentina were second, third and fourth.
